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CNBC
Nov 27, 2012 6:00am EST
by about six months. the law was mepts ant to be pha in by the start of 2013. >> archstone was not part of the zell asset, was it? >> i feel like zell was related to it. >> but he sold right at the top. so that was part of the problem. it wasn't just a total lack of due diligence. i mean, everything was valued hire when archstone was first sold, right? >> yes. but as i'm looking at this, no, sam zell i do not believe was involved. >> that was the equity office and -- >> and then blab stone. but blackstone even though they bought at the top figured out a way to then sell pieces of it very, very quickly. and they did very well. >> entrade is no longer accepting u.s. customers citing legal and regulatory pressures. that announcement coming hours after the u.s. commodities regulators sued the exchange's owner alleging that it allowed unauthorized trading by u.s. customers, u.s. customers must close their accounts and withdrawal all funds by the end of the year. and a group of former mf global customers is asking a court for permission to subpoena the commodities brokers executives, inc
CNBC
Nov 21, 2012 6:00am EST
now, the changes, potential tax law changes could mean. what are you hopeful about? what are you worried about? >> for the next five years, ten years, a very simple model. you have to raise revenues, lower expenses, and grow the economy. but the economy is not isolated. and the global economy is important. how does the u.s. participate? so we have to keep an eye on europe, we can't ignore it. you have to keep an eye on china. china's going to step on the accelerator in march if not earlier. and within the framework of the next ten years, can we regain our economic prowess? and that's priority number one. if you have these guys in new york, mayor bloomberg, mayor booker, the mayor, the governors, cuomo, christie, malloy, if they went on holiday while we had sandy, what would you do? we have an economic crisis. they're going to take a short break in december. yeah, we have to have a patch, but we have to have a fix. and a structural fix is so fundamental so that if you're running a business and you have clarity and visibility for the next five years, you can live with whatever you
CNBC
Nov 26, 2012 6:00am EST
fixes and solutions and proposals out there to change tax law. programs suggest maybe you need to cut the deduction for charitable giving. what would that mean to an organization like yours? >> we hope that doesn't occur obviously, but having said that, the american public's generosity never ceases to amaze me and they seem to step up because they want to help people that are less fortunate than they are and time and time again i have seen that over the last four and a half years that i've been with the american red cross, and it's made me very optimistic in the spirit of american giving, and i believe that people will continue to donate regardless of the tax law changes. >> would it impact your organization or not, you think it would not impact it? >> well, it's hard to tell. you know, i'd like to believe that people donate because they think it's the right thing to do, not just because they get a tax break. time will tell. >> gail, are you dependent on the really big bucks guys like if it goes to, say it went to 50 on a cap, you'd still get, the average donor that gives to the red c
CNBC
Nov 29, 2012 6:00am EST
pass a law that says the present law has to be overridden. the argument is whether it's overridden for people over 250,000. >> and what would be your position on that? >> oh, i think the simple thing to do, obviously do what the president is saying. he ran a campaign on it. if you have to act in three weeks, you're not going to revise the whole income tax code in the next three weeks. all this business about deductions may be perfectly legitimate and i think that both income tax -- personal income tax and corporate income tax need a lot of thought and a lot of revision. they're both broken. but you're not going to do that in three weeks. the challenge that i see is in three weeks you've got to have some convincing balance of the tax side, the revenue side, with the expenditure side. you can't change the expenditures in three weeks. you can indicate intentions, but you can't -- >> we'll have more of that conversation throughout the show including interesting comments he has about bernanke and interest rates and what's going on in washington beyond the fiscal cliff. he's got lots of
CNBC
Nov 28, 2012 6:00am EST
partner at a law firm. we have been looking through so many things when it comes to the fiscal cliff. and what we haven't focused on is what it would mean for the life insurance industry. this is something we've spoken with you about in the past. when you were here, i don't know if it was the last time you were here, you were here when they were looking at downgrading the united states and its credit ratings. the warning's out there that if there's not a deal reached, we could see another downgrade. what would that mean for the industry? >> i think that would not be good for the industry. i was on about a year ago when we talked about the u.s. been put on a watch, the s&p did, in fact, downgrade. and what happens in the life insurance industry, in order to stand behind the promises to policy holders, it's the largest holder of corporate and u.s. high-grade bonds. so it has, i think, over $2 trillion. and if you think about it, a downgrade would not be positive there. i could see the rating agency say these guys can't get their fiscal house in order, we warned them, put them on some kind o
Search Results 0 to 4 of about 5